Advice needed guys.

[gareth01422]

Hi all

Saturday I submitted the details for my LTD company. I have now got back (by email) the company name and number, which is from companies house. At the moment I am working for Jam recruitment in Chester and my accountants is Paystream (PAYE - umbrella). I received a phone call off Paystream today asking me fill some forms in about still using there services. They told me by using my limited company I would gain £60/week more than I am currently under there umbrella. They also informed me of their monthly charge of £140 for this service. Now to me this isn't a huge advantage to go limited.

Background info finished.

As my company is registered at companies house am I correct in the next actions?

1. Register online at the VAT office?
2. Apply for a company bank account?

I also need to find a good accountant who will utilise my expenses? Bruce Allen was mentioned in a thread I posted the other day. Is there any others you guys can recommend? And as anyone else have any review on Bruce Allen?

I have also bought a company domain name too, So I can build a small website advertising my services. Does anyone know of good cheap webspace?

Please feel free to correct me if I have said something the wrong way round and please put me right.

Thanks again guy's

Gareth

[BolshieBastard]

Hi all

Saturday I submitted the details for my LTD company. I have now got back (by email) the company name and number, which is from companies house. At the moment I am working for Jam recruitment in Chester and my accountants is Paystream (PAYE - umbrella). I received a phone call off Paystream today asking me fill some forms in about still using there services. They told me by using my limited company I would gain £60/week more than I am currently under there umbrella. They also informed me of their monthly charge of £140 for this service. Now to me this isn't a huge advantage to go limited.

Background info finished.

As my company is registered at companies house am I correct in the next actions?

1. Register online at the VAT office?
2. Apply for a company bank account?

I also need to find a good accountant who will utilise my expenses? Bruce Allen was mentioned in a thread I posted the other day. Is there any others you guys can recommend? And as anyone else have any review on Bruce Allen?

I have also bought a company domain name too, So I can build a small website advertising my services. Does anyone know of good cheap webspace?

Please feel free to correct me if I have said something the wrong way round and please put me right.

Thanks again guy's

Gareth

Just say NO! to any umbrella!

What the hell do you mean by needing 'a good accountant who will utilise' your expenses? Is he expected to claim them for his business?

[gareth01422]

Just say NO! to any umbrella!

What the hell do you mean by needing 'a good accountant who will utilise' your expenses? Is he expected to claim them for his business?

ok, good question,

I was meaning "who will tell me what I can claim for and what NOT to claim for" i.e petrol, accommodation...........

[pmeswani]

ok, good question,

I was meaning "who will tell me what I can claim for and what NOT to claim for" i.e petrol, accommodation...........

You can claim anything that is wholey a business expense. So if you are going to stay in a hotel during the time you are working for your client, then it is claimable. If you are travelling 1 mile or a 100 miles to a client, it is claimable.

Where shall I sent the invoice to?

[gareth01422]

You can claim anything that is wholey a business expense. So if you are going to stay in a hotel during the time you are working for your client, then it is claimable. If you are travelling 1 mile or a 100 miles to a client, it is claimable.

Where shall I sent the invoice to?

cheers for the info.

invoice to your location "in my homie" lol

[SueEllen]

If you want to find an accountant:
1. Look at the directory under CUK Navigation to find one.
2. Go to the PCG website and look for an accountant there.
Then come back here and do a search to see if they are mentioned in a good light.

The vast majority of them will be cheaper than the £140 a month your former umbrella want to charge you.

[Wanderer]

They told me by using my limited company I would gain £60/week more than I am currently under there umbrella. They also informed me of their monthly charge of £140 for this service. Now to me this isn't a huge advantage to go limited.

I don't know where they get the £60 figure from but I agree that it's probably not worth forming a LTD company if your turnover is less than 25-30k/year.

1. Register online at the VAT office?
2. Apply for a company bank account?

• Get your contract IR35 reviewed and if it's inside then get the agency to change it.
• Do NOT opt-out of the Employment Agency Regulations if the agency offers it
• Consider joining the VAT Flat Rate Scheme unless you are buying and selling a lot of equipment.
• See if you need to get insurance for public liability and/or professional indemnity (your umbrella would have covered this for you previously)

Be aware that you can land yourself in a load of trouble if you run a LTD company without some professional help. HMRC will fine you if you don't file your paperwork ontime and correctly.

I'm sure all the information you need is out there somewhere and (a few) people here will try to help but since you sound like you are fairly new to all this then you should seriously consider kickstarting things by joining the PCG. These guys are on our side and they will sort you out with an accountancy and insurance package and a whole load of good advice to get you up and running.

[gareth01422]

I don't know where they get the £60 figure from but I agree that it's probably not worth forming a LTD company if your turnover is less than 25-30k/year.

• Get your contract IR35 reviewed and if it's inside then get the agency to change it.
• Do NOT opt-out of the Employment Agency Regulations if the agency offers it
• Consider joining the VAT Flat Rate Scheme unless you are buying and selling a lot of equipment.
• See if you need to get insurance for public liability and/or professional indemnity (your umbrella would have covered this for you previously)

Be aware that you can land yourself in a load of trouble if you run a LTD company without some professional help. HMRC will fine you if you don't file your paperwork ontime and correctly.

I'm sure all the information you need is out there somewhere and (a few) people here will try to help but since you sound like you are fairly new to all this then you should seriously consider kickstarting things by joining the PCG. These guys are on our side and they will sort you out with an accountancy and insurance package and a whole load of good advice to get you up and running.

thanks for the help guys

[Scrag Meister]

1. Register online at the VAT office?

Not required I don't believe if you are are turning over sub-£61k.

[Gonzo]

ok, good question,

I was meaning "who will tell me what I can claim for and what NOT to claim for" i.e petrol, accommodation...........

SJD do a guide to expenses That is a very conservative guide but will ensure that you stay well away from any trouble.

In terms of using an accountant, I was always perfectly happy with SJD. Some people aren't.

They offer a pile it high sell it cheap approach to contractor accountancy, along with the others that offer a similar service.

If you are like most other contractors then it works fine.

If you are a needy or difficult person (from your posts it doesn't sound like you are), or want a lot of personal attention because your business is more complex than others, then the contractor specialist accountant approach is not for you.